Pmeac

NEW DELHI: Disagreeing with PMEAC's growth and inflation forecasts for 2013-14, Economists today said these were not in line with the prospective macro-economic scenario as they saw no signs of recovery in the second half of the current fiscal. "I do not agree with the PMEAC's projection of FY 14 growth at 5.3 per cent. I see growth at 4.3 per cent in current fiscal. I don't see a recovery in the second half as investment is down and there are no signs of it coming up, services...

Ending months of speculation. the Government has decided the shape and contours of the new entity that will replace the 62-year old Planning Commission . According to a Cabinet note Circulated by the Govt, the two key divisions of the PlanComm-the Expenditure Department - which decides on the all-powerful function of allocating funds to ministries - and Technical Department will be removed. As per the note, the State Division will be merged...

NEW DELHI: Chairman of PM's economic advisory council C Rangarajan will hand over his resignation to Prime Minister Manmohan Singh on Monday. "I will meet the Prime Minister on Monday. I need to talk to him once then only (I will resign)," Rangarajan told PTI over the phone. The present Prime Minister's Economic Advisory Council headed by Rangarajan, has Saumitra Chaudhuri, V S Vyas, Pulin B Nayak and Dilip M Nachane as its members. Chaudhuri is also one of the members of...

NEW DELHI: Stating agriculture subsidies are losing their relevance and becoming unbearable fiscal burden, Prime Minister's Economic Advisory Council (PMEAC) today suggested the government make a determined move to dismantle the system without causing disarray. "A determined move needs to be made to dismantle the subsidy regime in agriculture. It should be recognised, however, that the system has become addicted to subsidies and therefore, actions...

NEW DELHI: Chairman of the Economic Advisory Council to the Prime Minister (PMEAC) Chakravarthi Rangarajan has resigned following the defeat of the Congress-led UPA in the general elections. "He (Rangarajan) has tendered his resignation. He will be here this month," an official spokesperson of the PMEAC told today. The PMEAC also has Saumitra Chaudhuri, V S Vyas, Pulin B Nayak and Dilip M Nachane as members. Its term is parallel to that...

NEW DELHI: Chairman of PM's economic advisory council C Rangarajan will hand over his resignation to Prime Minister Manmohan Singh on Monday. "I will meet the Prime Minister on Monday. I need to talk to him once then only (I will resign)," Rangarajan told PTI over the phone. The present Prime Minister's Economic Advisory Council headed by Rangarajan, has Saumitra Chaudhuri, V S Vyas, Pulin B Nayak and Dilip M Nachane as its members. Chaudhuri is also one of the members...

NEW DELHI: India's mining sector is likely to see a slowdown in growth to 8 per cent this fiscal, even as the overall economy is poised for higher growth, the Prime Minister's Economic Advisory Council (PMEAC) has said. The lower forecast comes in the backdrop of an ongoing debate on the virtues of a proposed legislation -- the Mines and Minerals Development and Regulation Act, 2010 -- which aims to make mining allocation expeditious and transparent. ...

NEW DELHI: Prime Minister's Economic Advisory Council on Monday said India's exports would be impacted if the recovery of the US economy is hindered but expressed optimism that the country would overcome its debt crisis. "...I can only say, any mishap in the developed world and any factor contributing to the recovery becoming even slower than what it is now will have impact on India in terms of our ability to exports," Prime Minister's Economic Advisory Council...

NEW DELHI: The Prime Minister's economic panel has said the economy is growing at a rate that is above expectations and it is likely to expand by about 9 per cent this fiscal, higher than the earlier estimate of 8.5 per cent. "It (GDP growth so far this fiscal) is certainly above the original expectation of 8.5 per cent, may be close to 9 per cent," Prime Minister Economic Advisory Council (PMEAC) chairman C Rangarajan told PTI. Earlier,...

NEW DELHI: Ahead of the Budget, Prime Minister's Economic Advisory Council (PMEAC) today made a case for a partial roll back of stimulus by way of raising excise duties and reducing expenditure - which would automatically help reduce the fiscal deficit. "There is a case for adjustment of duties...adjustments are possible both on the revenue side and the expenditure side in order to bring down fiscal deficit," PMEAC Chairman C Pranab Mukherjee and it was up to...

In a chat with ET Now, C Rangarajan , Chairman, PMEAC , talks abhout the November IIP numbers and what can be expected from growth numbers in coming months. Excerpts: ET Now: What is your reaction to the IIP number and how much impact do you think the base effect has had on it? C Rangarajan: To some extent, it is disappointing. However, it appears that we are seeing a bottom of the decline in industrial production. We should see...

By Abheek Barman On Wednesday evening, many Congress leaders went to a dinner hosted by party president Sonia Gandhi. The meal was to bid farewell to Prime Minister Manmohan Singh, who served in that post for 10 years. The only notable absentee at the meal table was Rahul Gandhi, vice-president of the party his mother heads. Rahul's absence has been interpreted as a snub to Singh, as a mark of disrespect to a man who laboured long and hard at India's top...

NEW DELHI: India's economy in the third quarter of the current fiscal is likely to grow by more than 5 per cent, Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan said today. "Third quarter GDP figure could be more than 5 per cent. Overall growth rate for the FY'14 is estimated to be around 4.9 per cent of GDP, which implies growth rate in the second half will be 5.2 per cent but there could be some adjustment in quarter 1 and quarter 2 growth figure.

NEW DELHI: Decline in growth rate has bottomed out and there is a probability that the GDP estimate for 2013-14 may be revised upwards, Prime Minister's Economic Advisory Council Chairman (PMEAC) C Rangarajan said today. "India's economic growth rate in the current fiscal has been estimated at 4.9 per cent. This is an encouraging news. (It implies) the growth in second quarter of current fiscal has been more than 5 per cent. This...

ET Now caught up with C Rangarajan, chairman, PMEAC, for his take on the RBI credit policy. Excerpts: Mythili Bhusnurmath: What is your first reaction to the rate hike? Were you surprised or do you think it is entirely logical? C Rangarajan: This is a reflection of the strong commitment of the Reserve Bank of India to price stability as the primary concern of monetary policy. The action also reflects in some way the shift in focus from the...

CHENNAI: More efforts are required to reduce the subsidy and government needs to set an overall quantity for it, prioritising the areas that need greater focus, Prime Minister's Economic Advisory Council ( PMEAC ) Chairman C Rangarajan has said. He also said that India will be able to contain the fiscal deficit at 4.8 per cent for which higher growth is a must so as to increase government revenues. "I think there has been an effort to reduce subsidies...

CHENNAI: More efforts are required to reduce the subsidy and government needs to set an overall quantity for it, prioritising the areas that need greater focus, Prime Minister's Economic Advisory Council ( PMEAC ) Chairman C Rangarajan has said. He also said that India will be able to contain the fiscal deficit at 4.8 per cent for which higher growth is a must so as to increase government revenues. "I think there has been an effort to reduce subsidies (given by...

NEW DELHI: Indian economy would expand by 8% during 2010-11 and return to the high growth trajectory of 9% a year later, Prime Minister's economic adviser C Rangarajan said on Friday. "The economy would grow between 7% and 7.5% in 2009-10 , it would grow by 8% in 2010-11 and in the year after that growth would be 9%," he said. The optimism of Rangarajan , chairman of Prime Minister's Economic Advisory Council (PMEAC), is based on firm recovery in the global economy and normal monsoon.

NEW DELHI: Current Account Deficit (CAD) is likely to come down below 3 per cent of GDP in the current fiscal on the back of measures taken by government, PMEAC Chairman C Rangarajan said today. He exuded confidence that the Indian economy will grow at 5.3 per cent in 2013-14. "In the light of steps that have been taken the CAD will certainly come down below 3 per cent of the GDP in the current year and it will not be difficult to finance ...

MUMBAI: Confident of achieving 5 to 5.5 per cent growth in the current fiscal, Finance Minister P Chidambaram today said the green shoots are visible and measures taken by the government will help the economy achieve the potential growth rate of 8 per cent. Addressing bankers and economists at Bancon 2013, a flagship event of the Indian Banks' Association, Chidambaram told the lenders to deal firmly with wilful defaulters, but handhold those who are reeling under...